SÃO PAULO, BRAZIL - One of the largest sovereign wealth funds in the world, Abu Dhabi's Mubadala, is preparing to invest heavily in Brazil to expand its participation in the sports and entertainment sectors. The fund is considering participating, through its IMM company, in the bidding for the Ibirapuera complex in São Paulo, an investment that should not be lower than US$100 (R$400) million.
The Ibirapuera complex, which includes a gymnasium and arena, is strategic for IMM because the venue can attract sports and cultural events hitherto unavailable in Brazil, such as NBA basketball games, for . . .
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